PennyMac Mortgage Investment Trust (NYSE:PMT) Shares Purchased by Simplify Asset Management Inc.

Simplify Asset Management Inc. raised its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 476.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,600 shares of the real estate investment trust’s stock after buying an additional 47,600 shares during the quarter. Simplify Asset Management Inc. owned about 0.07% of PennyMac Mortgage Investment Trust worth $725,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Versant Capital Management Inc boosted its stake in shares of PennyMac Mortgage Investment Trust by 58.0% during the fourth quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 822 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of PennyMac Mortgage Investment Trust by 0.4% during the fourth quarter. Rhumbline Advisers now owns 264,702 shares of the real estate investment trust’s stock worth $3,333,000 after buying an additional 1,001 shares in the last quarter. Caprock Group LLC raised its position in shares of PennyMac Mortgage Investment Trust by 9.3% in the third quarter. Caprock Group LLC now owns 13,647 shares of the real estate investment trust’s stock valued at $195,000 after buying an additional 1,156 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of PennyMac Mortgage Investment Trust during the third quarter valued at approximately $28,000. Finally, Rialto Wealth Management LLC acquired a new stake in PennyMac Mortgage Investment Trust during the fourth quarter worth approximately $25,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Insider Transactions at PennyMac Mortgage Investment Trust

In other news, Director Doug Jones sold 14,530 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $14.50, for a total value of $210,685.00. Following the transaction, the director now owns 64,082 shares of the company’s stock, valued at approximately $929,189. This trade represents a 18.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities reiterated a “market outperform” rating and issued a $15.50 price target on shares of PennyMac Mortgage Investment Trust in a report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $15.20.

PennyMac Mortgage Investment Trust Stock Performance

Shares of PMT stock opened at $14.62 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 10.99 and a beta of 1.51. PennyMac Mortgage Investment Trust has a one year low of $11.77 and a one year high of $15.22. The company has a 50 day moving average price of $13.71 and a 200 day moving average price of $13.60.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a return on equity of 11.48% and a net margin of 48.17%. Sell-side analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 10.94%. The ex-dividend date is Friday, April 11th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 120.30%.

PennyMac Mortgage Investment Trust Profile

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.